Commodity Premium Daily Journal

Strictly For Client Circulation

MONDAY, 23rd
OCTOBER 2017

Gold 29500

Silver 39750

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Market Wrapup
Friday, 20th October 2017

Commodity Contract Open Price High Low Close Price

Gold 05-Dec-2017 29572 29637 29535 29560

Silver 05-Dec-2017 39955 40244 39665 39860

Crude Oil 17-Nov-2017 3345 3379 3322 3376

Natural Gas 26-Oct-2017 187 191.5 185.9 189.7

Copper 30-Nov-2017 455 459.7 452.15 455.55

Zinc 31-Oct-2017 205.4 207.7 203.5 204.95

Lead 31-Oct-2017 163.1 163.95 159.7 160.3

Aluminium 31-Oct-2017 138.5 140.6 138 138.25

Nickel 31-Oct-2017 759.5 785.8 755.8 762.5

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Support & Resistance
Monday, 23rd October 2017

Commodity Contract RES-2 RES-1 PIVOT SUP.1 SUP.2

Gold 05-Dec-2017 29679 29619 29577 29517 29475

Silver 05-Dec-2017 40507.67 40192.34 39928.67 39613.34 39349.67

Crude Oil 17-Nov-2017 3414.67 3393.33 3357.667 3336.33 3300.67

Natural Gas 26-Oct-2017 194.73 192.37 189.1333 186.77 183.53

Copper 30-Nov-2017 463.33 459.42 455.7833 451.87 448.23

Zinc 31-Oct-2017 209.52 207.13 205.3167 202.93 201.12

Lead 31-Oct-2017 165.53 162.87 161.2833 158.62 157.03

Aluminium 31-Oct-2017 141.50 139.80 138.9 137.20 136.30

Nickel 31-Oct-2017 797.57 779.33 767.5667 749.33 737.57

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MCX Outlook
Monday, 23rd October 2017

Indias Crude Oil imports hit record high in September

India imported a record 4.83 million barrels per day (bpd) of Crude Oil in September as several refiners resumed operations after extensive
maintenance to meet rising local fuel demand.

The worlds third-biggest oil importer shipped in 10% more oil last month than a year earlier and about 19% more than in the previous month,
ship-tracking data showed.

Maintenance turnaround at some refineries led to Indian Oil Corp deferring the shutdown of its 300,000 bpd coastal Paradip refinery to April-
March.
The country added 170,000 bpd of capacity at plants owned by Bharat Petroleum Corp and HPCL-Mittal Energy, which are gradually ramping
up crude runs.

U.S. Midwest oil refiners boost output, cut region's dependence on Gulf Coast
U.S. refineries from Ohio to Minnesota are capitalizing on access to cheap crude from Western Canada and North Dakota oilfields, helping
their region break a historic dependence on fuel from the Gulf Coast while redrawing oil trade maps.

Since the early 2000s, crude and fuel flows from the Gulf Coast into the U.S. heartland have been cut in half, as crude coming from Canada
and North Dakota has pushed U.S. Midwest refining activity to record levels. In 2016, Midwest refining capacity rose to 3.9 million barrels per
day (bpd) of crude, the highest annual volume on record.

Midwest refiners such as Marathon Petroleum Corp (NYSE:MPC), Phillips 66 (NYSE:PSX), BP (LON:BP) PLC and Husky Energy have
invested billions of dollars on new units capable of turning sludgy crude from Canada into gasoline and diesel. Investments in the Dakota
Access Pipeline and other avenues have helped bring in shale oil from North Dakota.

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Market News
Monday, 23rd October 2017

Special News
Gold Prices Down In Asia on Monday As Dollar Gains
Gold prices fell in Asia on Monday as the dollar showed strong gains after Japan's Premier Shinzo
Abe resoundingly won re-election, signalling continued easy policy.

Gold futures for December delivery fell 0.24% to $1,277.39 a troy ounce on the Comex division of
the New York Mercantile Exchange.

Overnight, gold prices fell on Friday, pressured lower by the stronger U.S. dollar which was boosted after President Donald Trump's plans
to overhaul the tax code cleared a critical hurdle.

The dollar rose on Friday, making gold more expensive for holders of other currencies, after Senate Republicans approved a budget
measure that will allow them to pursue tax cuts without support from the Democratic Party.

Crude Oil Gains In Asia On Momentum From Drop In U.S. Rig Count
Crude prices gained in Asia on Monday as rig count figures out of the U.S. aided sentiment on the
supply outlook.

U.S. West Texas Intermediate (WTI) crude futures rose 0.42% to $52.06 a barrel. Meanwhile, Brent
crude futures, the benchmark for oil prices outside the U.S., gained 0.28% to $57.91 a barrel.

Last week, oil prices settled higher in see-saw trade on Friday, as political tensions in the Kurdistan region continued to disrupt crude
supplies. Oil exports from Iraq's Kurdistan towards the Turkish port of Ceyhan were flowing at average rates of 216,000 barrels per day
versus the usual flows of 600,000 bpd, a shipping source said.

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Market News
Monday, 23rd October 2017

Commodity Buzz
Gold Eases Near Two Week Low, US Equities Hit Fresh High
Gold has given back its latest spree of gains yet again. Strength in the US dollar is hurting the metal yet again after the commodity edged
up near $1300 per ounce earlier last week. US dollar index surged after media reports stated that the US Republican-controlled Senate has
passed a budget blueprint. Dollar index ended at 93.60 levels right now, up 0.55% on the day. COMEX Gold slipped to $1281 per ounce
following this, down 0.64% on the day. These are the lowest levels in two weeks for the metal. MCX Gold futures dropped around 0.40% to
close at Rs 29560 per 10 gram levels. The metal rose impressively in the Muhurat session, adding 0.34% to end at Rs 29670 per 10 grams.
COMEX Gold recovered from a one week low earlier amid escalating global geopolitical worries and bargain hunting. Gold had dropped
recently as a failure to hold around its three week high at $1300 per ounce hurt the sentiments. However, sentiments turned around
yesterday after North Korea threatened to stage an unimaginable strike on the US amid tensions over Pyongyang's nuclear and missile
programs, according to media reports

Copper Manages To Recover, MCX Futures End Above Rs 455

COMEX Copper futures edged up after a brief fall last week as soaring equities boosted sentiments. Equities hit fresh highs in US today
after the US Senate adopted a fiscal 2018 budget resolution, taking a major step towards overhauling the US tax code. This supported
Copper after the recent correction that took the metal away from its three and half year highs. The counter ended flat at $3.17 per pound.
MCX Copper futures closed at Rs 455.55 per kg in last session, up 0.45% on the day.

World number two miner Rio Tinto announced in its third quarter production results last week that its copper production in the third quarter
declined by 3% to 120,600 tonnes. The Anglo-Australian giant stated that lower copper head grades at the Rio Tinto Kennecott mine in the
US and its Oyu Tolgoi copper-gold operation in Mongolia triggered the drop in output, according to media reports. Rio also trimmed its
copper production guidance for the year to between 460,000 and 480,000 tonnes compared to previous estimates of 500550,000 thous-
and tonnes in 2017.

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Analyst Speaks
Monday, 23rd October 2017

Gold MCX

Technically Gold market is under short covering as market has witnessed drop RESISTANCE 2 29679
in open interest by 10.22% to settled at 6086 while prices up 3 rupees.

RESISTANCE 1 29619
Now MCX Gold is getting support at 29517 and below same could see a test of
29475 levels and resistance is now likely to be seen at 29619, a move above
PIVOT 29577
could see prices testing 29679.

SELL GOLD AROUND 29530-29550 SUPPORT 1 29517

TGTS 29450/29350 SL 29650
SUPPORT 2 29475

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Analyst Speaks
Monday, 23rd October 2017

CRUDE OIL MCX

Technically Crude Oil market is under short covering as market has RESISTANCE 2 3414.67
witnessed drop in open interest by 11.98% to settled at 7255 while
prices up 14 rupees.
RESISTANCE 1 3393.33
Now MCX Crude oil is getting support at 3336.33 and below same could
see a test of 3300.67 levels and resistance is now likely to be seen at
3393.33, a move above could see prices testing 3414.67.
PIVOT 3357.667

SELL CRUDE OIL NOV AROUND 3410-3420 SUPPORT 1 3336.33

TGTS 3370/3330 SL 3460
SUPPORT 2 3300.67

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Todays Economic Events
Monday, 23rd October 2017

COUNTRY TIME EVENT ACTUAL FORECAST PREVIOUS

. . . .

USD

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Team :
Name Designation Email

Mr. Prateek Gupta (Technical Research Analyst-head)

Mr. Lakhan Patidar (Sr. Derivative & Technical Analyst)

Mr. Dharmendra Saloniya (Commodity Research Analyst)

Mr. Shubham Chinwar (Sr. Graphic Designer)

Checked By :-

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